BNN's mid-morning market update: Nov. 10, 2017

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Canada's main stock index finished lower for a third straight session on Friday, but it managed to rise for the full week, notching its longest weekly winning streak in more than two decades.

The Toronto Stock Exchange's S&P/TSX composite index fell 42.83 points, or 0.27 per cent, to end at 16,039.26, with half of the 10 main sectors recording a loss.

For the week, however, it squeezed out a 0.12 per cent gain, its ninth consecutive weekly rise, a feat not seen since late 1996 when it rose for 13 straight weeks.

After underperforming major global indexes for much of the year, the TSX has rallied seven per cent since early September, fueled in large part by energy stocks that profited from a nearly 25 per cent rise in U.S. crude oil prices.

Manulife Financial Corp (MFC.TO) ended down two per cent to $26.91 on Friday. Financial stocks gave back 0.7 per cent, and accounted for five of the index's six most influential decliners.

TSX operator TMX Group Ltd (X.TO) was one of the sector's bright spots, adding 1.8 per cent to close at $71.68 after posting a quarterly profit that exceeded expectations.

The materials group, home to precious and base metals miners, lumber and other resource companies, lost 0.8 per cent. Gold futures fell 0.9 per cent to US$1,274.50 an ounce on Friday, but were still set to see the first weekly rise in a month.

Wheaton Precious Metals Corp (WMP.TO) was the most impactful non-financial stock on the down side, losing 4.5 per cent to $25.53 after its third-quarter revenue fell short of forecasts.

Energy stocks gave up earlier gains to end down 0.2 per cent. Oil prices were slightly lower as expectations of an output deal extension were offset by U.S. drillers' adding the most oil rigs in a week since June.

Ford Motor said on Wednesday that Raj Nair, its president for North America, was leaving the company immediately after an internal investigation found his behaviour was "inconsistent with the company's code of conduct."